“Home prices have increased at a pace that far exceeds wage gains, especially for low- and middle-income workers,” says NAR Chief Economist Lawrence Yun.

While women make up more than 60% of the real estate profession, they do not hold nearly that same level of representation in industry leadership roles.

A contracting economy typically means a recession, but other economic indicators are likely to mitigate the effects of the slowing economy, says NAR’s chief economist.

Record-high home prices, declining consumer confidence and fears of recession are taking their toll on aspiring homeowners.